Aeroplan members who redeem miles for a stay at any Starwood property through March 31, 2010 will receive 500 bonus miles. Members can receive the bonus when redeeming for a stay at any Westin, Sheraton, Le Meridien, W Hotel, Four Points by Sheraton, The Luxury Collection or Aloft property worldwide. Every eligible redemption made through March 31, 2010 at www.aeroplan.com will qualify to earn the 500-mile bonus. Visit http://www.webflyer.com/link/?2104 to redeem your Aeroplan miles for a hotel stay.
Bottom line: Another way to look at this is as an award sale. For example, you can get a room at the Sheraton Centre Toronto Hotel for 14,500 miles. Because you’ll be earning the 500 miles, the room will cost you 14,000 miles.